FX.co ★ Mexico’s Manufacturing Momentum Slips Back Into Contraction in October PMI

Mexico’s factory sector slipped back into contraction territory in October, as the S&P Global Manufacturing Purchasing Managers’ Index (PMI) eased to 49.50 from 50.30 in September 2026. The latest reading, updated on 03 November 2026, signals a loss of momentum after just one month above the 50.0 threshold that separates expansion from contraction.

The October figure below 50.0 suggests a renewed softening in operating conditions for manufacturers, following September’s marginal improvement. While the change from 50.30 to 49.50 is modest, it underscores the fragility of the sector’s recovery and may prompt closer scrutiny from investors and policymakers monitoring Mexico’s industrial outlook.

With the PMI now back in contraction, markets are likely to watch upcoming releases closely to determine whether October’s reading proves to be a temporary setback or the start of a more prolonged cooling in manufacturing activity in Mexico.